OREANDA-NEWS. On 23 July 2008 was announced, that An exhibition/congress and hotel mixed-use complex is to be under construction in the centre of Moscow starting from 2009.

“It is decided to erect an exhibition/congress and hotel mixed-use complex with an underground car park with the total area of 270,000 sq m for the purpose of developing the exhibition and fair activity as well as the hotel and tourist complex of Moscow,” a source from Moscow City Hall said.

According to the source, the construction will be carried out on a site with the area of approximately 1.6 ha, on the place of a warehouse set to be demolished, on Krasnopresnenskaya Embankment and Krasnogvardeysky Proezd.

The underground structure will occupy 60,000 sq m, including the exhibition and congress complex with the total ultimate area of 40,000 sq m. The hotel complex will have not less than 600 rooms for 800 guests.

The object is to be raised at the expense of investors.